Mrs. Mary Senton is 42 years old and has over $250,000 in 2020 Taxable Income. Her husband's only source of 2020 income is $9,000 (grossed up amount of $12,420)in eligible dividends received from taxable Canadian corporations. In terms of federal Tax Payable, would Mrs. Senton benefit from the use of the ITA 82(3)election to include the dividends received by her spouse in her Net Income For Tax Purposes? Justify your conclusion.

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The Answer of Mrs. Mary Senton is 42 years old and has over $250,000 in 2020 Taxable Income. Her husband's only source of 2020 income is $9,000 (grossed up amount of $12,420)in eligible dividends received from taxable Canadian corporations. In terms of federal Tax Payable, would Mrs. Senton benefit from the use of the ITA 82(3)election to include the dividends received by her spouse in her Net Income For Tax Purposes? Justify your conclusion.

Mrs Mary Senton Is 42 Years Old and Has Over